Washington: US President Donald Trump confirmed that his country is conducting trade negotiations with more than 15 countries to avoid escalating tariffs, but he did not rule out making some tariffs permanent.

According to National Iraqi News Agency, Trump defended his administration’s tariff policy, explaining that it aims to protect American industry, noting that “the United States does not need cheap imported goods.” Washington recently imposed 10% tariffs on most countries, 25% on cars and steel, and 145% on China.

Regarding China, Trump stressed that Washington has been too strict, leading to a significant decline in trade relations. However, he confirmed that Beijing is “working hard” to conclude an agreement, provided it is “fair to the United States.”

Regarding US stocks, Trump indicated that he does not intend to remove Federal Reserve Chairman Jerome Powell from his position before his term ends in May 2026, despite his continued criticism of him for what he described as “stiffness” in monetary policy, renewing his call for lower interest rates.

Trump’s statements come weeks after a previous attack on Powell caused a sharp decline in US stock markets, raising questions about the independence of the US central bank and the impact of the president’s interventions on financial markets.